tag:blogger.com,1999:blog-5902253799556549537.post94662319221277328..comments2024-03-20T02:13:07.412-04:00Comments on Fictional Reserve Barking: Low national savings are not detrimental to the economycircuithttp://www.blogger.com/profile/08565443970730261572noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-5902253799556549537.post-43229088265762204682017-12-12T15:07:36.609-05:002017-12-12T15:07:36.609-05:00Thanks for clearing up the suspicions that I has a...Thanks for clearing up the suspicions that I has about low national savings.Frankhttps://growingsavings.com/noreply@blogger.comtag:blogger.com,1999:blog-5902253799556549537.post-7966204392866698702011-03-17T07:50:17.991-04:002011-03-17T07:50:17.991-04:00Just to clarify my last comment: Ireland's deb...Just to clarify my last comment: Ireland's debt problem is related to the fact that its PRIVATE sector external debt is equivalent to over 1000 percent of GDP. Japan doesn't have that problem given its economy is largely export-led.circuithttps://www.blogger.com/profile/08565443970730261572noreply@blogger.comtag:blogger.com,1999:blog-5902253799556549537.post-54135618017400478682011-03-16T15:51:37.923-04:002011-03-16T15:51:37.923-04:00Great use of the expression "animal spirits&q...Great use of the expression "animal spirits"! Your comment regarding Japan's global weight is right on. Lots of commentators, especially in the business media, get blinded by Japan's supposed debt problem. Most of them aren't aware that Japan's debt is owed (and owned!) domestically. As a result, the chances of Japan facing the same fate as Ireland (who owes the equivalent of over 1000% of GDP to foreign lenders) is pretty slim.circuithttps://www.blogger.com/profile/08565443970730261572noreply@blogger.comtag:blogger.com,1999:blog-5902253799556549537.post-48490034766761714082011-03-15T22:18:09.667-04:002011-03-15T22:18:09.667-04:00Wolverine is a favorite of any true keynesian...no...Wolverine is a favorite of any true keynesian...no one has more animal spirit than W. Now I see where you get your grit. Well done.<br /> The amount has been increased to $245B and should rise. However, aren't we also in the midst of a national economic meltdown with global consequences. Japan is one of the world's biggest importers of foreign goods and exporter of goods and capital...the global implications seem to be difficult to put a hand on. Your caution is insightful.Jorgehttps://www.blogger.com/profile/02289940373257994962noreply@blogger.comtag:blogger.com,1999:blog-5902253799556549537.post-76402905884777308102011-03-14T21:19:30.948-04:002011-03-14T21:19:30.948-04:00Sorry Jorge, I forgot to mention in my last reply ...Sorry Jorge, I forgot to mention in my last reply that I live in the land of Wolverine so I like to comment on our economy from time to time. As for Japan, I hope the amount that I see being discussed will be sufficient. At an equivalent of $180 billion, I think that's somewhere around 3-4 percent of GDP (probably spread out over several years). It'll definitely help. But then I read that they're considering raising taxes to pay for the additional spending. Some would say this could turn out to be counterproductive, as it might reduce purchasing power during a period when the Japanese need it most.circuithttps://www.blogger.com/profile/08565443970730261572noreply@blogger.comtag:blogger.com,1999:blog-5902253799556549537.post-8336224095170952132011-03-14T19:50:36.654-04:002011-03-14T19:50:36.654-04:00I understand your point...not much to inflate thes...I understand your point...not much to inflate these days other than gold and that's a useless commodity. But some players find comfort and markets are about comfort.<br /><br />My point on Canada is why do so many of your columns relate to Canada. I think that constitutionally Canada is an interesting experiment, but economically very few global tradeoffs are sorted out in that theatre, aside from Potash, tar sands and arctic sovereignty.<br /><br />You impress like a solid keynesian, almost ultra-orthodox. Japan must now certainly be a Keynesian solution in the making. <br /><br />Any thoughts in that regard.Jorgehttps://www.blogger.com/profile/02289940373257994962noreply@blogger.comtag:blogger.com,1999:blog-5902253799556549537.post-36609523415483143772011-03-14T08:10:02.244-04:002011-03-14T08:10:02.244-04:00Thanks Jorge. Glad to have you as a regular! Also,...Thanks Jorge. Glad to have you as a regular! Also, I hope your colleagues will find something of interest on this site. Appreciate you circulating. Regarding the BoC's position: yeah, until very recently, listening to them was like being back in the 1970s: they see signs of inflation everywhere. Even at the peak of the subprime mess back in 2008, you still heard Bank officials talk about inflation and ways to improve its measurement. Here's an example: http://www.bank-banque-canada.ca/en/speeches/2008/sp08-11.htmlcircuithttps://www.blogger.com/profile/08565443970730261572noreply@blogger.comtag:blogger.com,1999:blog-5902253799556549537.post-66670686515297913842011-03-13T20:24:29.931-04:002011-03-13T20:24:29.931-04:00I've been reading some of your comments. Excel...I've been reading some of your comments. Excellent insights, very comprehensive work. I'm just curious why so many Canadian topics. I enjoyed your comments on the Bank of Canada's position. Certainly professional. I passed your site on to some colleagues, one of whom in Canada. I'll enjoy reading the rest of your columns, and hopefully you'll surprise us with new features besides the Music Breaks.Jorgehttps://www.blogger.com/profile/02289940373257994962noreply@blogger.com